Citibank
Collection Calls and Threats After 1-2 Month Card Defaults

Recently, over minor 1-2 month defaults, Citibank Karachi has been making threatening calls and sending their goons to customers' premises to wrestle money out in any way possible.

This is an excerpt from a letter sent by me to Citibank Karachi, Pakistan.

On outstanding credit card balances, your charges work out at a whopping 4.04% per month and 48% annually. Even if you take out the credit shield, your finance charges are nearly 40% p.a. Is this the normal practice worldwide, or are these special rates for Pakistanis? What about interest rates and other charges on personal loans, late payment charges, etc.? And what about the approval of the State Bank of Pakistan?

The whole nation is talking about how banks in Pakistan, and Citibank in particular, have gone on a rampage and a looting spree and are fleecing the locals.

On 2 March I sent a fax to 021-5683432, informing the concerned bank staff in advance about temporary financial difficulties. I clearly mentioned that I had every intention of clearing the loan and that this was a 4-6 month temporary setback.

With reference to your reminder/telephone calls from the Collection Department, I would once again remind you of my fax to your office dated 2 March, in which I had informed you in advance of a temporary delay in payments. I took every call from your departments and did my best to convince the bank staff about my honourable intentions.

As you are aware, I am a Zamindar and Aquaculturist/Fish Farmer. Due to an acute shortage of water for the last 6 months, all fields relating to agriculture have suffered financially. This is a temporary setback, and I have contacted several brokers for the sale of my lands, which are presently unutilized.

Please bear with me and I will settle all your outstanding dues in the next few months. As I mentioned in my previous letter, I have every intention of paying off the entire loan. In the meantime, would you please reprimand your specially trained and coached Collection Department staff to stop behaving like loan sharks, as their uncouth attitude will most certainly backfire. This is not the Netherlands, neither is it the 1800s, and your collection department does not work for the Dutch East India Company.

I received a call from your department yesterday. The less said about the lady who phoned, the better. But she did suggest that I beg, borrow or steal, but must pay the loan at all costs. If I have to beg from my friends, colleagues or anyone for that matter, I must pay at all costs. And she would not listen to reason and nagged me persistently for several hours. Then another caller with a good attitude called and we discussed the matter in a cordial manner. Are you playing Bad Cops - Good Cops? I am wise to your devious plans and will not succumb to your unethical tactics. The more you pester, the more I feel like not paying and taking you to Court. By the way, all telephone calls are recorded.

Let me give you a stern warning. Stop intimidating, harassing, humiliating, embarrassing and degrading people. Least of all, it will not work with me. If your staff calls again regarding installments and discusses the issue in a civilized manner, I would be happy to oblige. If, on the contrary, I receive a call from a nagging, uncivilized Neanderthal, I will not stoop to her level and will instead hand over the phone to my uneducated, uncivilized Farm In-charge/Kamdar, who is very adept and does not have any respect for goons such as the ones you have employed.

I see that there are several complaints against your bank on the worldwide web. We plan to start a blog soon for all consumer complaints against banks and institutions in Pakistan that are overcharging, fleecing and fraudulently including punitive charges, such as in the case of my credit cards. I still await your written reply. It is strange that an international bank such as yours lacks the guts and backbone to send a reply in writing for redressal of several written complaints. What are you so afraid of, and what skeletons have you been hiding in your vaults?

Please keep the collection staff on a leash or, better still, muzzle them. Otherwise, I will have no alternative but to seek legal recourse and write to every newspaper in Pakistan. In this case, I will stop all payments to your bank until the matter has been settled by the Court. This is my final warning.

Company: Citibank
Country: USA

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